XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Cash Flows From Operating Activities:    
Net earnings $ 41,458,000 $ 11,583,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 10,828,000 10,626,000
Amortization of capitalized financing costs 49,000 49,000
Stock-based compensation expense 1,174,000 1,277,000
Deferred income taxes (36,000) 392,000
Asset impairment charges 1,415,000 343,000
Loss (gain) on sale and disposition of property, plant and equipment 125,000 (1,031,000)
Gain from life insurance proceeds 0 (200,000)
Increase in cash surrender value of life insurance policies over premiums paid (1,535,000) 0
Net changes in assets and liabilities (net of assets and liabilities acquired):    
Accounts receivable, net (5,532,000) (6,890,000)
Inventories (2,195,000) (246,000)
Accounts payable and accrued expenses 19,642,000 26,281,000
Other changes 69,000 2,444,000
Total adjustments 24,004,000 33,045,000
Net cash provided by operating activities 65,462,000 44,628,000
Cash Flows From Investing Activities:    
Acquisition of business 0 (18,356,000)
Capital expenditures (13,681,000) (3,448,000)
Increase in cash surrender value of life insurance policies (309,000) (133,000)
Proceeds from sale of assets held for sale 79,000 1,875,000
Proceeds from life insurance death benefit 0 200,000
Proceeds from surrender of life insurance policies 27,000 195,000
Proceeds from sale of property, plant and equipment 0 40,000
Net cash used for investing activities (13,884,000) (19,627,000)
Cash Flows From Financing Activities:    
Proceeds from long-term debt 230,000 223,000
Principal payments on long-term debt (230,000) (223,000)
Cash dividends paid (30,712,000) (1,735,000)
Payment of employee tax withholdings related to net share transactions (161,000) (76,000)
Cash received from exercise of stock options 434,000 0
Net cash used for financing activities (30,439,000) (1,811,000)
Net increase in cash and cash equivalents 21,139,000 23,190,000
Cash and cash equivalents at beginning of period 68,688,000 38,181,000
Cash and cash equivalents at end of period 89,827,000 61,371,000
Supplemental Disclosures of Cash Flow Information:    
Income taxes, net 10,874,000 342,000
Non-cash investing and financing activities:    
Purchases of property, plant and equipment in accounts payable 946,000 712,000
Restricted stock units and stock options surrendered for withholding taxes payable 161,000 76,000
Accrued liability related to holdback for business acquired $ 0 $ 1,000,000